Pound Sterling Price News and Forecast: Cable retreats as buyers struggle to clear 1.2700

FXStreet Team FXStreet

GBP/USD Price Analysis: Cable retreats as buyers struggle to clear 1.2700

The Pound Sterling erased Wednesday’s gains against the US Dollar as investors pushed the major to new weekly highs on the disinflation evolution in the United States (US). Although investors are pricing 38 basis points rate cuts by the Federal Reserve toward the end of the year, the Greenback is staging a comeback. The GBP/USD trades at 1.2654, down 0.25%. Read More...

Pound Sterling clings to gains near 1.2700 on firm Fed rate-cut bets

The Pound Sterling (GBP) turns sideways after posting a fresh monthly high near 1.2700 against the US Dollar (USD) in Thursday’s London session. The near-term outlook of the GBP/USD pair is upbeat as uncertainty over the Bank of England (BoE) rate-cut timing has deepened due to stubborn United Kingdom (UK) wage growth. This is a favorable scenario for the Pound Sterling. Read More...

GBP/USD extends its upside above 1.2680 on weaker US Dollar

The GBP/USD pair extends its upside near 1.2688 on Thursday during the early Asian session. The uptick of the major pair is supported by the weaker Greenback after the release of softer US CPI inflation data. Later in the day, the US Building Permits, Housing Starts, the weekly Initial Jobless Claims, the Philly Fed Manufacturing Index, and Industrial Production will be released. Also, the Federal Reserve’s (Fed) Barr, Harker, Mester, and Bostic are set to speak on Thursday. Read More...

GBP/USD

Overview
Today last price	1.2668
Today Daily Change	-0.0018
Today Daily Change %	-0.14
Today daily open	1.2686

Trends
Daily SMA20	1.251
Daily SMA50	1.2593
Daily SMA100	1.2633
Daily SMA200	1.2541

Levels
Previous Daily High	1.2687
Previous Daily Low	1.2584
Previous Weekly High	1.2594
Previous Weekly Low	1.2446
Previous Monthly High	1.2709
Previous Monthly Low	1.23
Daily Fibonacci 38.2%	1.2647
Daily Fibonacci 61.8%	1.2623
Daily Pivot Point S1	1.2617
Daily Pivot Point S2	1.2549
Daily Pivot Point S3	1.2514
Daily Pivot Point R1	1.272
Daily Pivot Point R2	1.2755
Daily Pivot Point R3	1.2823

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FXStreet Team

FXStreet

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